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JP Morgan Conference

Jim TobinChief Executive Officer

January 14, 2009

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Cautionary Statement for Purposes of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995

This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “intend” and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by the statements in this presentation can be found in our most recent Form 10-K and Form 10-Q under the heading “Risk Factors” and “Cautionary Statement for Purposes of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.” Participants are cautioned not to place undue reliance on any of our forward-looking statements.We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which they may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.

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Transforming a LeaderThrough Diversification

57%

43%

50%

32%

18%

51%

24%

25%

49%

23%

28%

2005 2006 2007 2008 as ofQ3

Boston Scientific Revenue Mix

Other Coronary Stents CRM

• Interventional Cardiology• Peripheral Interventions• Electrophysiology• Endoscopy• Urology/Gynecology• Neurovascular• Neuromodulation

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Major Accomplishments

Transformed Quality

Revitalized the Pipeline

Streamlined the Organization

Strengthened Financial Fundamentals

Diversified Product Portfolio

Positioned for the Future

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Transformed Quality

• Quality Remains our Number One priority

– Project Horizon and Aurora

– Changed processes, systems, behaviors, culture, results

• Quality as a competitive advantage

• Corporate Warning Letter

– New product approval restrictions lifted

– Remediating final issues

Unconstrained Product Approvals

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Transforming Quality:CRM US Product Advisories

11

8

3

1

2005 2006 2007 2008

Proof is in the Results

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Revitalized the Pipeline:R&D Investment

$ in millions; excludes divestitures

$0

$200

$400

$600

$800

$1,000

$1,200

2006 2007 2008 Est. 2009 Est.

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Revitalized the Pipeline:2008 CRM Launches

Highest quality products, most frequent launch cadence gaining market share

•COGNIS® CRT-D

•TELIGEN® ICD

•Upgraded LATITUDE® Patient Management System

•ALTRUA™ family of pacemakers

•ACUITY™ Spiral LV Lead

•CONFIENT® ICD and LIVIAN® CRT-D

Smallest, thinnest high-energy devices in the world

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Revitalized the Pipeline:Delivering CRM Innovation

• Physician acceptance exceeding expectations– Impressed by combination of High Energy devices with improved

longevities– Backed by longer warranties

Key Clinical Priorities:MADIT-CRT Trial: Can CRT slow the progression of HF in high-risk mildly symptomatic patients?ALTITUDE Initiative: To understand programming practices, device feature use and utility of the LATITUDE® System

Smallest, thinnest high-energy devices in the world

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Revitalized the Pipeline:Cardiac Rhythm Management

WW CRM Sales @ CFX

Building Momentum

0% 5% 8%

Q1’07 Q1’08 Q2’07 Q2’08 Q3’07 Q3’08

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Revitalized the Pipeline:2008 Cardiovascular Launches

• TAXUS® Liberté® Paclitaxel-Eluting Coronary Stent System

• TAXUS® Express2® Atom™ Paclitaxel-Eluting Coronary Stent System

• PROMUS® Everolimus-Eluting Coronary Stent System

• Apex™ Balloon Dilatation Catheter

• Carotid WALLSTENT® Monorail® Endoprosthesis

Leadership with Two-Drug OfferingThe PROMUS Stent is a private-labeled Xience V™ Everolimus-Eluting Coronary Stent manufactured by Abbott and distributed byBoston Scientific. Xience is a trademark of the Abbott Laboratories group of companies.

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Revitalized the Pipeline:U.S DES Market Dynamics

54% 55% 50% 45%

24%

21%

20%

27%

2006 2007 Q1'08 Q2'08 Q3'08 Oct. andNov.Est.*

TAXUS® Share PROMUS® Share

Note: Market Share and Penetration Rates are based on average for the period.* MGR Data, 3 month average. for penetration

85%65% 63% 66% 70% 73%

2006 2007 Q1'08 Q2'08 Q3'08 Oct. andNov.Avg.*

U.S. DES Penetration

Clear Leadership in Recovering Market

45% 47%

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Revitalized the Pipeline: Strong Position in U.S. DES Market

Xience V

Endeavor TAXUS Cypher

PROMUS

Market Leadership in DES

• Maintaining DES Leadership

• Maintaining Premium ASP

• Penetration Approaching 75%

Based on Millennium Research Group’s US Interventional Cardiology Marketrack

November 2008

Cypher is a trademark of Cordis Corp. Endeavor is a trademark of Medtronic Inc.

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Revitalized the Pipeline: Advancing the Next DES Generation

CAUTION: PROMUS Element Stent and TAXUS Element Stent, are investigational devices. Limited by U.S. Federal law to investigational use. Not for sale in the U.S.

Two-Drug Platform – Satisfying Customer Preferences

PROMUS™

Element™ Stent TAXUS®

Element™ Stent

E.U. Launch Late 2009

U.S. Launch Mid 2011

E.U. Launch Late 2009

U.S. Launch Mid 2012

LabCoatTechnology

CE Mark Submission for TAXUS 1H’09

BSC Internal Estimates

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39%

67%

2008 Est. 2009 Est.

Revitalized the Pipeline:Sales from New Products

19%

31%

2008 Est. 2009 Est.

Cardiovascular Group Sales Cardiac Rhythm Mgt. Group Sales

’09 Consolidated New Product Sales Projected at 38%

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Revitalized the Pipeline2009 New Product Launches

Fathom® GuidewirePhoenix™ CoilPhoenix™ CoilNeuroform EZ™ Stent

Neurovascular

Navigator™ Access SheathEscape® BasketZipWire® GuidewirePolaris™ Loop Stent

HTA® Procedure Sets CSAAccumax® FibersTitan™

Solyx™

Lithoclast® Select

Urology

WallFlex® Biliary StentRadial Jaw® 4 RC Biopsy Forceps

WallFlex® Esophageal Stent

WallFlex® Biliary StentBiliary Dreamtome™ /Wire

Endoscopy

Confient® ICDAltrua™ PacemakerCognis® CRT-DTeligen® ICD

Latitude® TY+Blazer™ IRR CE (EP)IS-4 (Phased Launch)

Blazer™ DX 20 (EP)IS-4 (Phased Launch)

Cardiac Rhythm Management

TAXUS® Liberte® StentPROMUS® StentFlextome® Cutting BallooniLab® 2.0

PROMUS® Element StentTAXUS® Element™ StentKinetix GuidewireAdapt™ Stent(PI)iLab® 2.0

Apex™ Balloon CatheterICross™ IVUS CatheterKinetix™ GuidewireiLab® 2.0

CardiovascularJapanEMEAU.S.

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Streamlined the Organization

• Sold five non-strategic businesses

• Monetized non-strategic investments

• Restructured business units– Leveraged resources– More focus on competitors – Simplified business model

Focus on Core, Strategic Growth Markets

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Strengthened Financial Fundamentals

• Trailing 12 months operating cash flow of $1.5B (~$1.00/share)

• Reduced gross debt by $2.2B since Guidant acquisition

• Cash on hand of $1.7B as of Q3

• Next debt maturity April 2010 - $825M

• Reduced operating expenses by $500M

• No sacrifice to key R&D projects

• Improved working capital management

Improving Margins and Restoring Profitable Sales Growth

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Diversified Product Portfolio

• Realizing value of Guidant acquisition

– Successfully executed two-drug stent platform strategy

– Realized power of acquisition in marketplace with

launches of PROMUS® and Cognis® /Teligen®

• Operating control of Neuromodulation business

Achieved Greater Diversification

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Diversified Product Portfolio:Cardiac Rhythm Management

• Resolved Product Advisories Issue

• Removed Quality Warning Letter

• Restored Customer Trust and Confidence

• Restored New Product Cadence

• Focused on Innovation and Clinical Science

• Investing in Global Field Force

• Exploring Next Frontier of Market Opportunities

(Re)Engineered. (Re)Focused. (Re)Vitalized.

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Diversified Product Portfolio: Neuromodulation

• Transforming quality systems

• Completed plant re-location

• Achieved #2 U.S. market position in pain management within 24 months of first market launch

• Investing for future indications beyond lower back pain

Mega Market in the Making

Precision Plus™ Spinal Cord Stimulator

Multi-Electrode Bion™

Note: Images are not to scale

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2004 2005 2006 2007 2008E

Diversified Product Portfolio: Neuromodulation

Rapid Sales GrowthWorldwide Revenue Trend Medical Conditions

• Chronic Pain• Neurological Disorders

Solutions• Neurostimulation• Spinal Cord Stimulators• Microstimulators

Emerging Indications (under study)• Migraine• Over Active Bladder• Obesity• Deep Brain Stimulation

Precision Plus™ Spinal Cord Stimulator

* The Multi-Electode BionTM is an investigational device and is currently not available for sale.

The Multi-Electrode Bion™ * (right) and Precision Plus are being studied to treat new and emerging indications.

$10m

$244m

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Positioned for Expanding Leadership

• 38% ‘09 revenue from new products

• Expanding critical market share positions

• Strong customer relationships

• Breadth of product lines

• R&D focused on innovation

Committed to Accelerating RevenueGrowth and Improving Profit Margins

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Positioned For the Future

Internal Estimates

Global Market Growth Opportunity 6 – 8%

All Other

Stents

CRM

$29 BillionMarket Total

2008-2013Market CAGR

0 - 2%

6 - 8%

8 - 10%

49%

23%

28%

2008 as of Q3

Boston ScientificRevenue Mix

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We Have Transformed the Business

• The Foundation is Firmly in Place!– Simplified and diversified business– Executed restructuring plan– Turned CRM into major growth engine– Generating significant cash flows– Paying down debt rapidly– Strengthened balance sheet

• Time to Focus on the Future!– Enriched product pipeline

– Product portfolio in growth markets

– Financial discipline

Positioned for Profitable Sales Growth